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Nov 2022

New insurance investor guidelines in Australia

Source: Asia Insurance Review | Sep 2022

The Financial Services Council (FSC) and its fund management members are leading the transition to a lower emissions economy following the release of guidelines that will help combat climate change and greenwashing.
 
The FSC guidance demonstrates the funds management industry’s commitment to addressing climate change by setting expectations for the industry when setting net zero targets, labelling investment products and fulfilling their legal obligation to disclose climate-related risks.
 
FSC CEO Blake Briggs said, “The Australian funds management industry takes the challenge of climate change seriously, along with its role in allocating capital to facilitate the transition to a low carbon economy.
 
“The FSC’s guidance for fund managers is a signal to government, regulators and consumers the Australian investment community sees acting on climate change risk is a top priority and is taking a leadership position on emissions reduction and meeting net zero targets.
 
“The FSC wants consumers to have confidence fund managers who set net zero targets are assessing their portfolios with robust science-based methodology and are working with companies they invest in to reduce emissions.” A 
 
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